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BlackRock expanding in private credit, buys HPS Investment Partners for $12 billion - TL;DR CNBC

BlackRock expanding in private credit, buys HPS Investment Partners for $12 billion

Publishing timestamp: 2024-12-03 11:51:34


Summary

BlackRock to acquire HPS Investment Partners for $12 billion in stock, creating an integrated private credit franchise with about $220 billion in assets. Deal expected to close in mid-2025 during a boom for private credit space. Transaction will raise BlackRock's private market AUM and management fees significantly.


Sentiment: POSITIVE

Tickers: OWLARESBLK

Keywords: stock marketsbusiness newswall streetblackrock incblue owl capital incmarketsblue owl capital corporation iiibreaking news: marketsinvestment strategyares management corp

Source: https://www.cnbc.com/2024/12/03/blackrock-expanding-in-private-credit-buys-hps-investment-partners-for-12-billion.html


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